Vince Vaughn's Crime Drama 'Term Life' Scrapped by Universal

The movie was supposed to be an adaptation of a graphic novel about a mob-targeted man who has to lay low long enough for his life insurance policy to kick in for his daughter.

Vince Vaughn's effort to bring Image Comics graphic novel "Term Life" to the big screen fell apart. The movie adaptation which was initially set to be led and produced by the "Wedding Crashers" actor has just been canned by Universal.

The cancellation first reported by Deadline came just weeks after Hailee Steinfeld was tapped to join the cast ensemble. The "Romeo and Juliet" actress was supposed to portray Vaughn's on-screen daughter, with Peter Billingsley as the director.

Based on the graphic novel by A.J. Lieberman and Nick Thornborrow, "Term Life" centers on a man whom everybody, from mob bosses, hit men and dirty cops, wants dead. He takes out a million-dollar policy so his daughter will be taken care of financially. Now he has to try to stay alive because his life insurance policy doesn't take effect for 21 days.